Bruce Springsteen Sells Entire Publishing Catalog to Sony Music for $500 Million
“The boss” may be taking a big step toward retirement. Recently, Bruce Springsteen sold his entire song catalog to Sony Music for an estimated $500 million, saying that the company always treated him with respect “as an artist and as a person.”
Here’s what we know about the “Born to Run” artist and what his decision means for future performances.
Songs by Bruce Springsteen include ‘Hungry Heart’ and holiday hits like ‘Santa Claus is Comin’ to Town’
Springsteen is known for hits like “Dancing in the Dark,” “Streets of Philadelphia,” and “Born in the U.S.A.” He was the recipient of the Kennedy Center Honors. Additionally, the musician was inducted into the Grammy Hall of Fame.
Springsteen’s most recent studio album, Letter to You, was released in October 2020. The musician also partnered with former United States President Barack Obama for the podcast Renegades: Born in the USA.
“The River” singer is also a proud musician from New Jersey, recently collaborating with Bleachers and Jack Antonoff for the song “Chinatown.” He further described his rise in popularity with the autobiography Born to Run.
Bruce Springsteen sold his music catalog for $500 million to Sony Music
In 2021, this artist underwent a significant change regarding his music ownership. Springsteen sold the masters of his entire catalog to Sony Music and the coinciding music publishing rights to Sony Music Publishing. The deal totaled an estimated $500 million, Billboard reports.
That means Sony technically has ownership of over 300 songs, 20 studio albums, and 23 live LPs, spanning about 50 years of Springsteen’s career.
“I am one artist who can truly say that when I signed with Columbia Records in 1972, I came to the right place,” Springsteen said in the statement from Sony. “During the last 50 years, the men and women of Sony Music have treated me with the greatest respect as an artist and as a person. I’m thrilled that my legacy will continue to be cared for by the company and people I know and trust.”
Bruce Springsteen will still perform his Grammy Award-winning songs with the E Street Band
What does this mean for upcoming Springsteen concerts? The “Born to Run” artist will not be barred from performing well-known hit songs. However, in selling the “masters” of his catalog, Springsteen waived choosing what his songs are used for or how they are distributed in the future.
Additionally, the holder of the master has control over the financial gains from the recordings. In Springsteen’s case, that means future revenue would directly benefit Sony Music.
According to Pitchfork, “this deal arrives one year after Universal Music Publishing Group purchased Bob Dylan’s extensive publishing catalog for more than $300 million.” There was also recent controversy regarding the ownership of Taylor Swift’s masters, leading the artist to re-record albums Red and Fearless.
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